Bitcoin Forum

BITCOIN Flippening GOLD - conglaturation!

http://goldprice.org/spot-gold.html
https://price.bitcoin.com/

1 BTC more value than 1 OZ gold

Yeah, Bitcoin value is twice the value gold ounce, so investing in bitcoin might be a better idea after all

That won't happen until 1BTC equals 1kg or at least one pound of Gold. One Oz is not that much money after all (2500$ is a month's wage in the Western Hemisphere).

While i understand the excitement. As 1 BTC is reference and 1 OZ is reference. I find it difficult to compare gold to BTC. A metal to a digital asset. the similarities i see is that both are good stores of value.

1 bitcoin = 1 kg worth of gold will never to be real, It means the bitcoin must be worthed over ten thousand dollars.

OP, Bitcoin is not flipping the gold. My thought if the bitcoin is different with the gold itself. The value of the gold depends on the how many weight of the gold itself. And bitcoin is not.

The next level of flippening is to get the marketcap of gold, once we hit 8+ trillion dollars for marketcap and pass gold it's when we all get rich and the domino effect will kick in where gold holders will start buying more bitcoin, and soon we go to 10+ trillion dollars. Once we pass gold we are the kings of the world.

the word "flipenning" is used as meaning of "replacing" not price going higher. and it is the nonsense used by the ethereum shills wanting to pump their coin.
and while bitcoin price is going up and it has attracted a lot of attention from everyone and many gold investors are now also bitcoin investors but bitcoin is not "replacing" gold.

Price doesn't matter at all in this case when comparing bitcoin to gold.

Obviously, gold has more recognition and international acclamation than bitcoin, right? Yes, bitcoin has risen more than gold. Yes, 1 bitcoin is now worth more than 1 troy ounce of gold. But 1 troy ounce of gold is just an arbitrary figure that people put on gold to make it easy for them to measure how much gold is there.

A more accurate measurement is market captilization, in which bitcoin is obviously still far far behind. Gold is estimated to have a market cap of a few trillion US dollars, whilst bitcoin has only 40 billion right now.

Plus, this isn't even news. This happened like in March/april.

Gold is a precious metals and not just for people want buy for holding or invest. Can make jewelry and Is a jewel of luxury, unlike Bitcoin, just is considered as a mere value.

Gold always have what we call material value. They praised golds value not because it might be the next reserve but the very definition of its build itself. Considered as one of the finest materials known to human, it became one of the worlds reserve. When the computer technology is introduced, digital technology made its name
 Bitcoin have successfully surpassed golds price in terms of 1 BTC = 1 onze of gold. Even if im into bitcoin when I have a lot of money I would still buy gold. Bitcoin might be more valuable than gold but in terms of material value, for me golds hands down.

I agree nice analytic and i will add that bitcoin is too different investment in gold they have both good price but one exist in online and one is a physical materials. I weight comparison we cant but in 1oz. of gold in equivalent of $ and 1 bitcoin will be the base .Bitcoins have a big price through a years past than gold.

Bitcoin is not flipping the gold but Bitcoin have good chances because it is just more transportable than gold  :D

BTC flippening gold doesnt really mean anything. Markets always go up and down and gold will find its luster back again as soon as theres bearish sentiment in the traditional markets around the world. Gold has always been one of the safest investments for thousands of years. That wont change flippening or no flippening.

We can say that for now bitcoin has more value than 1 OZ of gold but I would like to see bitcoin having value more than 10 grams of gold at the very least and has to stay at that price for months for me to call it as bitcoin flippening gold. Like what the post above mine said, it doesn't really mean anything and it will not effect the future price movements of bitcoin.

well it's not that unfeasible to have bitcoin worth $10k or more, will happen eventually in the near future

bitcoin is more rare than gold, and therefore the chance to have it with a better value is high

also gold will never grow more than that, gold is there in its stagnantion since ages...

You are right no coins will replace gold. It is a universal asset. And where you go in this world it has value. And all over the world, it has investors. You are right this is the safest investment for thousands of years. Bitcoin is now entering the market, and it is gaining more investors but it won't flippening gold.

Even in the past few months, bitcoin already surpassed the price of gold based on the market price because bitcoin is a complete package for me because it is a currency and also a good investment for long term at the same time. Bitcoin is like the gold but it is the advanced version of gold and that is why people are moving from gold into bitcoin because of the complete features that they can get.

How is this even news now? I remember it has basically been like this since the end of April, loll.

Anyways, it's all psychology. Bitcoin is still a long way behind in terms of trust in the currency and stability. As we all know bitcoin market capitalization is many times smaller than gold's, and there are definitely a lot more people using gold as a store of value than there are people using bitcoin for the same purpose. So instead of comparing prices of each bitcoin and each ounce of gold, we as a community should focus on getting more people to adopt bitcoin and get to know what it is instead. Price rises are good for investors but don't benefit regular users that much.

I guess this was old news because a bitcoin values more than gold for months already and it really has not affected bitcoin price at all for the past few weeks. After all, bitcoin sitting at the price ranges that we see now might not last longer and we might see history repeating itself. For now I'm glad that bitcoin price is this high.

While what you are saying it is correct, it does not tell the whole story, look at the market cap of gold and the market cap of bitcoin and see the difference, bitcoin has a long way to go before even getting close to the market cap of gold, so as you see things can be seen from different angles in any situation.

the bitcoin price currently worth approximately 2 OZ gold but if you mean about the price i think you missed the opportunity that when bitcoin price reach $3000 several month ago so don't really surprise to see the growth from bitcoin because there is a chance even bitcoin price will surpassing 5 OZ gold in the future

No, thats not what I meant. I meant even if BTC is worth much more than gold, it doesnt really take anything away from gold. Do you think the spot market for gold and other precious metals will crash simply because BTC has more value? No, of course not.

Why dont know everyone wanted Bitcoin to replace anything like bitcoin replacing fiat currency, or bitcoin replacing gold. When every one knows that Bitcoin is more like a good investment option just like gold and both investment option are good for investment as their price fluctuation is high.

Gold is does not have that high fluctuation on the price because it is more likely for long term investment which is good for people who want to have a secured investment. Bitcoin is just for people who want to make money in either short or long term or to be involved in the latest technology of the currencies and that is all about bitcoin and other cryptocurrencies.

I know even newspapers do this kind of compairment, but this tells nothing.

One way which might be a reasonable comparison would be comparing the price of the total amount of gold mined till now, to the price of the total amount of bitcoin mined till now.

I would be willing to bet on that, its just a matter of time imo
Gold is not useful money in the digital age

I guess we'd have to factor time into it, we will have to compare them from the time of Bitcoin's inception right until now and that will make sense to draw the correlation between the two in terms of prices.

You can not compare them, they have different background and effect, they are not the same in nature, comparison of values is a stupid thing.

bitcoin has been worth more than TWO OUNCES of  gold for months
do you live in a cave ?  ::)

Why and how would you factor time into it?

Of course you have to compare them over time, like two graphs with one X-Axis (time) but factor it in?

You haven't seen anything yet if you think that statement will hold up to the testament of time
Ten thousand dollars is just the next stepping stone we will hit well that and 5K we are still a technology less than a decade old the growth metric could easily reach that target a few years down the road 40-50 K is still an attainable point capped at 21 million if it keeps its utility the market caps would work out fine for that range about a Trillion is where big mainstream is so 1KG = 1 BTC seems attainable someday.
https://www.macrumors.com/2017/07/07/apple-trillion-dollar-company-within-year/

I really like the higher bitcoin prices but until now gold is still the choice of the most in the interest by some people. So I think for now bitcoin can not replace gold to switch using bitcoin in investing even if bitcoin price is much higher than from gold price

I think "flippening" is not the correct word because Bitcoin has not taken gold's place. Bitcoin is still a crypto-currency, and gold still a precious metal used in jewels. Anything more precious than gold did not flippened it ::)...

Of course, we have absolutely a reason to believe that, the potential of bitcoin is infinite, if it succeeds, the bitcoin value can rise even higher. More than any other currency, bitcoin is the only currency recognized internationally.

As of now, not many governments have accepted bitcoins as a currency yet but slowly they may regulate it. But we can find users in almost every country in the world and because of its demand and uses it will force all governments to regulate it slowly. I don't know we can compare this with gold but surely it will be a one of the best investment in the longer run.

I don't know why bitcoin is compared to gold and now they are thinking of flippening. LOL. Its like comparing apples and oranges. Maybe we can call bitcoin gold 2.0. Both has its advantage. Gold being around for a long time as store of value.Bitcoin might soar multiples higher in value who knows? but we know that it is not a reliable store or standard of value. It has no history of stability at all. And another advantage of gold - is that it's not dependent on the operation of the internet So if you have the chance to invest, then get them both.

This is what we call 21st Century, an era of digitalization .
At last IT technology has been able to find replacement of the proven instrument of store of value from ages, i.e. Gold.
If we considered comparison between gold and Bitcoin for last one year, gold value remain almost stagnant while Bitcoin jumped 3 times. And this difference is enough to show why flippening happening.

Well this is just an ounce of gold and since Bitcoin is not physical and doesn't have a specific weight I doubt if the comparison is fair but then if Bitcoin is able to topple a kilogram of gold in the future I think that will be the best time for comparisons really.

Bitcoin and gold can both be considered resources. Them two can likewise be utilized as a wellspring of venture or for individual utilize. On account of bitcoin, it is better as far as its utilization and security. It can be effectively traded among two individuals and nobody needs to stress over its security. It is less demanding for hoodlums to take gold since it has physical properties while bitcoin is a virtual or online money and there is no compelling reason to stress over its security in that sense. Likewise, bitcoin is additionally more profitable than gold and is expanding day by day at a quicker rate than gold.

I unequivocally differ that gold is the 'most secure' resource as far as speculation or ownership. Digital money has yearned supplanted gold in term of speculation. Without a doubt gold has numerous financial specialists yet that is because of the way that individuals are uninformed of bitcoins significance and having its points of interest. As far as venture bitcoins are a long ways in front of gold both in esteem and the possibility to get much more costly after some time.

Each advantage has its own esteem and significance in the market which no other resource can supplant. Comparative is the situation with digital forms of money and gold. Gold has its own particular significance in the market in the market since it is a valuable metal and cryptographic money have its own significance of being the online cash having quick and unknown exchanges and buying any coveted or required item anyplace on the planet inside seconds.

It won't not be a powerful approach to look at both of the benefits since no one knows the aggregate weight of gold weight of gold mined since the begin or even the previous hundred years. While certainly feasible but rather it additionally may be hard to ascertain the aggregate number of bitcoins mined up till now. As far as esteem, both having their own particular significance, bitcoin is still ahead as far as esteem and is always expanding so regardless of the possibility that a value examination is done between the two it won't stay valid for long.